Iran’s Ministry of Petroleum news agency Shana reported on May day that Iran’s April crude oil exports hit 2.6 million barrels per day, a record high since the sanctions were lifted, and India’s purchases accounted for more than half of Iran’s exports. However, the United States expressed doubts about Iran's sincerity in strictly implementing the nuclear agreement, and US President Trump threatened to restore sanctions. Trump will make a finalToday's closing crude oil price decision on this on May 2.
In general, with the OPEC meeting ended, the biggest negative for the crude oil market was the market’s concern about the increase in production at the OPEC meeting. After the results of the increase in production were announced, it did not seem to have an impact on the overall situation. On the contrary, further sanctions by the United States may be necessary. The gap in the supply of crude oil continues to widen, and the sudden decrease in inventory has also accelerated the rebound in oil prices. It can be said that in a short period of time, the crude oil market has achieved a counterattack. Not only that, as the positives continue to expand, oil prices may be heading towards $80. Moving forward, in the next July market, the trend of crude oil is worth looking forward to.
Crude oil, as the source of the chemical sector, directly dominates the trend of the chemical sector. The sharp rise and fall of crude oil prices will quickly affect the sentiment of the chemical sector in a short period of time, driving the rise and fall of chemical futures commodities. From the perspective of long-term cost, it will affect the entire industrial chain of energy and chemical industry, causing the trend of crude oil to be transmitted to the downstream industrial chain in turn.
After the disappearance of the Saudi journalist, Trump and the outside world unanimously suspected that Saudi Arabia did it. Because the missing Saudi journalist Khashoggi had a good relationship with the Saudi crown prince, after Saudi King Salman appointed Mohammed bin Salman as the crown prince, Khashoggi left Saudi Arabia because of the contrary views of the Saudi government. After leaving Saudi Arabia, Khashoggi went to the United States and often published articles criticizing the Saudi government in famous American media.
Today, on June 26, international oil prices rose slightly. As of press time, Bursa oil rose more than 0.5%, approaching the 75 mark, at 798 US dollars per barrel, while U.S. oil rose 0.46% to 69 US dollars per barrel. Some analysts predict that according to the recent international situation, international oil prices will soon rise to 80 US dollars and return to their peak.
Therefore, some American politicians called on the United States to consider embargoes or other measures to prevent the influx Today's closing crude oil priceof oil. Senator Kevin Kramer of North Dakota stated that he is frustrated with Saudi Arabia's large amount of discounted crude oil being sent to the US market at this time and do not let them unload on US soil.
St. Louis Federal Reserve Chairman Brad suggested that the Fed postpone interest rate hikes in February. Brad is the first member of the Federal Reserve to openly talk about postponing a February rate hike. Affected by concerns about the slowdown of the US economy and the inversion of US bond yields, the US stock market continued to be under pressure. The Dow once fell more than 650 points, the Nasdaq fell %, and the S&P 500 fell 66%. The panic index VIX rose nearly 5% to 228 temporarily. Risk sentiment is heavily suppressed, putting pressure on risky assets such as crude oil.
Palacios said in an interview with Bloomberg on Wednesday: There are two most important dates in the crude oil market recently. One is today on May 9, when the United States announced the resumption of sanctions against Iran. The other is that on May 20th, Venezuela will hold presidential elections.
Russian crude oil giants are actively expanding production, but considering the existence of production reduction agreements, they also allow a part of the natural loss to reduce crude oil inventories. But they have made it clear that instead of maintaining a production reduction agreement, they hope that they will not delay more time on new projects.
If the disappearance of the Saudi journalist cannot be effectively resolved for a long time, oil prices will continue to rise. Coupled with the upcoming oil sanctions imposed by the United States on Iran, there will be a shortage of global crude oil supply, and international oil prices will likely rise sharply. Domestic refined oil prices will also rise with international oil prices.
At the end of 208, Qatar announced that it would withdraw from the OPEC organization in 209. The blink of an eye has reached the time when Qatar’s withdrawal decision takes effect. OPEC said that Qatar’s decision was final. Qatar accounts for 0.6% of the global oil market. It has been 57 years since it joinedToday's closing crude oil price OPEC. Why did it suddenly withdraw from the group?